Time
9:24pm
Location
Colombo
In support of its ongoing collaboration with the private sector towards inclusive and sustainable growth, the Sustainable Development Council facilitated a mission from the Global Reporting Initiative (GRI) – South Asia Network this week with the aim of strengthening the capacities of Sri Lankan businesses in the textile & apparel sector on sustainability standards and certification, risk management and reporting based on the globally accepted GRI frameworks.
Sri Lanka holds a key position in the global fashion industry supply chain as an ethical sourcing destination for apparel and fashion. However, against the growing global demands for stricter policies and practices assuring higher environmental and social safeguards, Sri Lankan businesses in the apparel and textile sector will need to adopt new initiatives to improve productivity, reduce environmental impact to continue to retain its prominent and respected position in the global apparel supply chain and push into new markets which are demanding and ready to pay a premium for ethically and sustainably manufactured apparel products. According to Market Research Future (2023), the global market for sustainable textiles is expected to grow at a compound annual growth rate of 12.5% between 2022 and 2030, reaching nearly USD 69.5 billion in 2030.
GRI is an independent international organization providing standards, tools and training to organizations of all sizes to harness the skills, capabilities and data to create sustainable, long-term value and unlock positive change. GRI standards are among the world’s most widely accepted sustainability reporting framework. Headquartered in Amsterdam, Netherlands, GRI has a network of five regional networks through which it supports organizations and stakeholders worldwide.
Based on the discussions with SDC held through 2024, Sri Lanka was included in the ‘Improving Transparency for Sustainable Business (ITSB) Programme’ to be implemented by GRI in India, Bangladesh and Sri Lanka with the support of the Swedish International Development Cooperation Agency (SIDA). The Programme aims to build the capacity of businesses to meet market and regulatory requirements while improving practices in labor, economic impact and tax and sustainability reporting among others.
During the mission, extensive consultations were held with SDC and its partner agencies from government, the Ministry of Industries and the Export Development Board and industry stakeholders represented through the Joint Apparel Association Forum (JAAF), Sri Lanka Apparel Exporters Association and ESG Professionals Association to agree on priority interventions for Sri Lanka through 2025 to 2027.
Accordingly, capacity building sessions would be conducted for 100 apparel and textile sector companies in Sri Lanka based on an assessment of current capacities on materiality assessments and impact reporting during 2025. As next step, it is expected to create digital reporting platforms to integrate SMEs in the textile and apparel sector into impact reporting practices through simplified approaches.
The above interventions are expected to strengthen the ability of Sri Lankan businesses in the apparel and textile sector to create value for employees, customers, communities and the environment whilst also enhancing their ability to access new market opportunities in the fashion industry.